Home Technology Podcast Advertising Market Size, Share and Report Analysis to 2032

Podcast Advertising Market

Podcast Advertising Market Size, Share & Trends Analysis Report By Ad Type (Pre-Rolls Ads, Host-Read Ads, Supplied Ads), By Campaign Type (Brand Awareness Ad, Direct Response Ad, Branded Content), By Content Genre (News and Politics, Society and Culture, Comedy, Sports), By Industry (BFSI, Media and Entertainment, Retail, IT and Telecommunication, Healthcare, Automotive, Travel and Tourism, Food and Beverages) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Report Code: SRTE55968DR
Study Period 2020-2032 CAGR 14.8%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD 12.5 Billion
Forecast Year 2032 Forecast Year Market Size USD 43.2 Billion
Largest Market North America Fastest Growing Market The Middle East and Africa
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Market Overview

The global podcast advertising market size was valued at USD 12.5 billion in 2023 and is projected to reach USD 43.2 billion by 2032, registering a CAGR of 14.8% during the forecast period (2024-2032). The increased use of influencer marketing strategies in the podcasting industry has contributed to the Podcast Advertising Market share. 

Podcast advertising promotes products, services, or brands using audio advertisements within podcasts. These advertisements can take many forms, including host-read endorsements, pre-recorded commercials, sponsorships, and dynamically inserted ads. Podcast advertising has grown in popularity as podcast listenership has expanded to include various topics and genres.

The continued growth of podcast audiences creates a compelling opportunity for advertisers to reach a more extensive and more diverse demographic. Podcasts are becoming more popular as people realize how convenient and versatile they are. Furthermore, podcast apps frequently include subscription and notification features, which alert users when new episodes of their favorite shows become available. As a result, there will be more demand in the market in the coming years. 

However, unlike digital channels, where user interactions with ads are tracked in real-time, podcast advertising is based on download and listen-to metrics. Furthermore, download numbers only estimate reach; they do not consider how engaged listeners are with the content or advertisements. High download numbers do not imply that ads are actively listened to. Due to these factors, there will be less demand in the market in the coming years.


  • Host-read ads account for the largest share of the market by ad type.
  • Direct Response Ad generates the highest revenue share by campaign type.
  • News and Politics influenced the market growth by content genre.
  • BFSI contributes significantly to the market by industry.

Market Dynamics

Global Podcast Advertising Market Drivers:

Rapid Growth of Podcast Listening

One of the primary drivers of the podcast advertising market is the exponential growth of podcast listening worldwide. The availability of podcasts via smartphones, smart speakers, and other digital devices has increased listenership across all demographics. As more people incorporate podcasts into their daily routines for entertainment, education, and information, advertisers are flocking to the medium to reach these devoted listeners. Spotify, one of the leading audio streaming platforms, has significantly invested in podcast content and technology. Spotify spent over USD 200 million in 2023 to acquire two podcast production companies: Chartable and Podsights, both podcast advertising companies, and Gimlet Media, an industry leader. Spotify made podcasts more accessible to its user base by integrating them alongside music streaming, resulting in increased listenership.

Furthermore, podcast listening has steadily increased in the United States over the last decade, with 79% of Americans over 12 familiar with podcasting by 2023. In 2023, 42% of Americans aged 12 and up had listened to a podcast in the previous month, up from 12% in 2010. 48% of monthly podcast listeners are aged 12 to 34, with 46% being women, up from 39% in 2013.

In addition, podcast listening is on the rise globally in 2023, with 464.7 million listeners, up from 424.2 million in 2022. This figure is projected to reach 504.9 million by 2024. The rapid growth of podcast listening has attracted advertisers looking to capitalize on the growing audience. Advertisers recognize the value of podcast advertising in reaching highly engaged audiences in an intimate and immersive audio environment. 

Global Podcast Advertising Market Restraints:

Ad Skipping and Ad Avoidance

Unlike traditional radio or television advertising, podcast advertising is frequently delivered unobtrusively, allowing listeners to skip or fast-forward through ads. While listeners generally appreciate host-read endorsements, pre-recorded commercials or dynamically inserted ads may need to be addressed, reducing the ad's impact and effectiveness. Advertisers must balance communicating effectively about their brands and respecting the listener's experience to avoid ad avoidance or backlash.

According to a survey by Edison Research and Triton Digital, 52% of monthly podcast listeners in the United States say they "always" or "usually" skip podcast ads when given the option. According to the same survey, 45% of monthly podcast listeners agree that they "mostly" listen to podcast ads, while only 3% say they "always" listen to podcast ads.

In addition, ad skipping and ad avoidance behaviors pose challenges for advertisers looking to increase the impact and effectiveness of their podcast ad campaigns. While host-read endorsements are generally less susceptible to ad skipping than pre-recorded ads, advertisers must still consider the possibility of listeners tuning out or skipping ads entirely. Advertisers may consider alternative advertising strategies, such as incorporating branded content or sponsored segments into podcast episodes, to capture listeners' attention and reduce ad-skipping.

Global Podcast Advertising Market Opportunity:

Increasing Monetizing of Podcasts

With podcasts' growing popularity, content creators and platforms turn to advertising to monetize their content. This trend allows advertisers to work with podcasters and networks to deliver targeted and effective advertising messages to engaged audiences. As podcast monetization models evolve, advertisers can find new ways to incorporate their brands into podcast content while maintaining the listener experience. Backlinko predicts that podcasting revenue in the United States will reach USD 2.3 billion in 2023, representing a 24.8% increase over the previous year. 75% of podcast listeners say they pay close attention to podcast advertisements. This growth reflects advertisers' increasing interest in podcast advertising as a viable marketing channel.

Furthermore, the growing monetization of podcasts creates new opportunities for advertisers to work with podcast creators and platforms to reach engaged audiences via advertising. Advertisers can use the ever-increasing number of podcast ad slots to send listeners targeted and relevant advertising messages, increasing brand awareness, consideration, and purchase intent. 

As podcast creators experiment with various monetization models, such as advertising, subscriptions, and listener donations, advertisers can tailor their advertising strategies to match the preferences of podcast creators and audiences. This flexibility enables advertisers to test different ad formats, placements, and sponsorship opportunities to improve campaign performance and ROI.

Regional Analysis

North America Dominates the Global Market

The global podcast advertising market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North America is the most significant global podcast advertising market shareholder and is estimated to grow at a CAGR of 14.9% over the forecast period. The North American regional market accounted for the largest revenue share of over 40% in 2023 and is expected to continue to dominate the podcast advertising market throughout the forecast period. In 2022, the United States had the highest revenue share in the region, accounting for more than 89%. This dominance can be attributed to the region's rapid adoption of modern technology and its mature audience base. Furthermore, the Canadian market is growing in size and engagement. Publishers focus on improving their ad services, while businesses implement audio-on-demand podcasting strategies across their platforms.

The Middle East and Africa are anticipated to exhibit a CAGR of 15.0% over the forecast period. The podcast advertising market in the Middle East and Africa is expected to grow at the fastest CAGR during the forecast period, driven by increased mobile and internet usage. The increased availability of digital content is driving up podcast consumption. Advertisers are taking advantage of this trend by tailoring content to local preferences, resulting in a more engaging experience for listeners. The convenience of on-the-go listening and strategic partnerships between content platforms and advertisers drive the expansion of podcast advertising in the region. 

Asia-Pacific is expected to grow significantly during the forecast period. The proliferation of digital devices, combined with the increasing accessibility and popularity of podcast content, has driven regional market growth. The region's population uses podcast streaming to stay updated on new substances; these patterns vary by region, age group, and gender. For example, in June 2023, Cipla Limited, with the assistance of Schbang, launched its flagship campaign #BerokZindagi. This new chapter is part of its ongoing efforts to raise awareness about inhalers as a safe and effective treatment for asthmatics.

The European podcast advertising market rapidly expands due to increased podcast listenership, expanded content diversity, and growing advertiser interest. Further, In 2023, the European smartphone market was worth 75.5 billion euros, with approximately 459 million smartphone subscriptions in Western Europe. 

In Latin America, podcast listenership is rapidly increasing, and the region is becoming increasingly important for advertisers to target. As these regions continue to invest in podcast infrastructure, content creation, and monetization strategies, they are expected to become significant contributors to the global podcast advertising market.

Report Scope

Report Metric Details
By Ad Type
  1. Pre-Rolls Ads
  2. Host-Read Ads
  3. Supplied Ads
By Campaign Type
  1. Brand Awareness Ad
  2. Direct Response Ad
  3. Branded Content
By Content Genre
  1. News and Politics
  2. Society and Culture
  3. Comedy
  4. Sports
By Industry
  1. BFSI
  2. Media and Entertainment
  3. Retail
  4. IT and Telecommunication
  5. Healthcare
  6. Automotive
  7. Travel and Tourism
  8. Food and Beverages
Company Profiles AdvertiseCast, LLC Amazon.com, Inc. Acast Audacy, Inc. Liberated Syndication Podbean SoundCloud Limited Spotify AB Stitcher Media LLC SXM Media
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Singapore Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The global podcast advertising market is segmented based on ad type, campaign type, content genre, and industry.

The market is further segmented by ad type into Pre-Rolls, Host-Read, and Supplied Ads.

The host-read ads segment held the largest market share of more than 65% in 2032 and is expected to continue to dominate the podcast advertising market during the forecast period. The podcast host reads these ads, creating a more genuine and personal connection with the audience. This approach resonates better with listeners, resulting in higher engagement and conversion rates for advertisers. For example, podcast ad pricing is based on the impressions and downloads received in the first 30 days and the CPM (cost per mile) rate. The average rate of host-read ads for 30-second spots is between USD 21-24 CPM, while for 60-second spots, it is between USD 25-28 CPM. 

The pre-roll ad segment is expected to grow significantly, with a significant CAGR over the forecast period. Pre-roll ads are short advertisements that appear at the start of a podcast episode before the main content begins. They typically last 15 to 30 seconds and serve as an introduction to the episode. Podcasts frequently attract niche audiences with specific interests, making them an appealing platform for advertisers seeking to reach a particular target demographic. Most pre-roll ads are non-skippable, while the bumper ads are skippable. These types of advertisements provide an excellent opportunity to reach their target audience. For example, a Gorden Ramsey pre-roll ad before a cooking video or a Margaret Atwood ad before a writing and reading video. This, in turn, is expected to fuel segment market growth during the forecast period.

Based on campaign type, the market is fragmented into Brand Awareness Ads, Direct Response Ads, and Branded Content.

The direct response ad segment held the largest market share of more than 68% in 2023 and is expected to continue dominating the market during the forecast period. Direct response marketing provides numerous benefits because it generates a quick return on investment and a large volume of leads. The segment is driven by the type of campaign they give an advantage in, allowing advertisers to form stronger relationships with prospects and potential customers through direct lines of communication. The referral program is one of the best examples of a direct response ad campaign type; 83% of people trust word-of-mouth marketing, and the referral program has a broader reach, increasing its chances of attracting customers. It also meets the potential needs of customers, which drives market growth. 

The branded content segment is expected to experience significant growth during the forecast period. Branded content is created using high-quality multimedia formats such as audio and video. The features enable tropical conversations, which provide a more emotionally engaging experience than text or static images. This brand worked with bloggers, influencers, and podcasters to create content that subtly incorporated the brand's messaging or products. For example, in May 2023, iHeartMedia launched a branded podcast studio, allowing it to double the production, sales, and marketing of custom podcasts created for other brands.

The market is classified into News and Politics, Society and Culture, Comedy, and Sports based on content Genre.

The news and politics segment held the largest market share of more than 30% in 2023 and is expected to continue to dominate the podcast advertising industry during the forecast period. This trend is driven by a growing demand for informative and engaging content, with audiences increasingly turning to podcasts for in-depth analysis and discussions of current events and political issues. The ease of on-the-go consumption and the personalized nature of podcast content have contributed to the growing popularity of news and politics podcasts, making them an appealing platform for advertisers looking to reach a captive and receptive audience.

While sports podcasts concentrate on athletic competitions, commentary, and athlete interviews, this genre's advertisers include sports brands, apparel companies, equipment manufacturers, and sports media outlets. Advertisements in sports podcasts may consist of endorsements from athletes, coaches, or sports commentators to boost the brand's credibility and authority. These advertisements may appeal to listeners interested in sports and fitness, making them effective at reaching engaged and active audiences. Sports podcasts allow advertisers to connect with fans, enthusiasts, and participants in various sports and athletic pursuits.

The market can be further bifurcated by industry into BFSI, Media and Entertainment, Retail, IT and Telecommunication, Healthcare, Automotive, Travel and Tourism, Food and Beverages.

The BFSI segment held the largest market share of more than 17% in 2023 and is expected to continue dominating the market during the forecast period. Podcasts enabled BFSI companies to reach a more affluent and financially savvy audience, which may be interested in financial news, investment advice, and insurance-related content. The BFSI industry could position itself as a thought leader by providing educational content via podcasts and establishing trust and credibility with potential customers. Podcasts enabled BFSI firms to concentrate on specific financial topics and products, catering to audiences interested in those areas. Spotify, for example, uses Ad Studio, which allows for more precise targeting and free audio creation services to reach out to existing podcast listeners. 

The retail segment is expected to expand at the fastest CAGR. Podcasts frequently form strong bonds with their listeners, and recommending products or services can foster a sense of trust and authenticity. Retailers increasingly use podcast sponsorships and advertisements to promote their products and services, capitalizing on the engaged and targeted audience that podcasts provide. The retail podcasts always include the most recent information on data, automation, branding, and other retail topics. It also covers top retail events and conventions, including Retail Week Live and Shoptalk Europe.

Market Size By Ad Type

Recent Developments

  • February 2024- Acast scored a deal with Football Prime the Podcast.
  • March 2024- Audacy Podcasts will launch an original series that explores MTV's cultural history and impact.
  • March 2024- Libsyn rebranded AdvertiseCast to Libsyn Ads, driving next phase of podcast advertising growth.

Top Key Players

AdvertiseCast, LLC Amazon.com, Inc. Acast Audacy, Inc. Liberated Syndication Podbean SoundCloud Limited Spotify AB Stitcher Media LLC SXM Media Others

Frequently Asked Questions (FAQs)

How big is the podcast advertising market?
The global podcast advertising market size was valued at USD 12.5 billion in 2023 and is projected to reach USD 43.2 billion by 2032, registering a CAGR of 14.8% during the forecast period (2024-2032).
Asia-Pacific has the highest growth in the global market.
Key verticals adopting the market include: AdvertiseCast, Amazon.com, Acast, Audacy, Liberated Syndication, Podbean, SoundCloud Limited, Spotify AB, Stitcher Media LLC, SXM Media LLC Inc
Rapid growth of podcast listening is the key driver for the growth of the global market.
Increasing monetizing of podcasts is one of the upcoming key trends in the global market.

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